Sat, Aug 03, 2013 at 17:16
Target Price: Rs 200
Implied Upside 60%
Rationale: A continuing healthy performance on all fronts, improving operating metrics and a strong outlook for the future aids us in retaining our positive stance on the company. The company’s net asset value, post debt, stands at Rs77.8bn which translates to Rs222/share. Our target price is based on a 10% discount to NAV which translates to Rs200.
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